Coverage:
County Township Coverage:
Benton County›City of Foley
County Township Coverage:
Benton County›Township of Gilmanton
Date Accepted:
Monday, March 22, 2021
State Agency Order:
No
Open Agreement:
Yes
Entire Area Annexed:
No
Notice to Designate:
Yes
Acreage:
840
Affirming Statement:
No
City Reimbursement:
Yes
Reimbursement Type:
Lump Sum
Reimbursement by Property Owner:
No
Reimbursement by Acre:
No
Tax Rate Step-up:
Yes
Step up description:
6 years for undeveloped property; if any part of the annexed property becomes developed prior to the end of the 6-year period, it shall be assessed at the City’s tax rate.
Planning:
Yes
Planning Type:
Joint
Initiation:
Yes
Initiation Type:
Conditional municpial
Debt/Special Assessment Language:
No
Taxing:
No
Special Taxing District:
No
Green Acres:
No
Comments:
Reimbursement: An amount equal to 7 years of property taxes based on the rates and values at the time of annexation. Payment will be made in a lump sum within six months after the annexation is effective. Agreement expires December 31, 2021.
